OAR – OAR Resources | Aussie Stock Forums


Oar Resources Limited (ASX: OAR) or (the Company) is pleased to announce it has, late yesterday, received confirmation from the Department of Mines, Industry Regulation and Safety (DMIRS), in relation to the anticipated granting of the Company’s Crown Project Tenement, E70/5406, which OAR announced it had agreed to acquire on 28 April 2020. The Crown Project area contains numerous magnetic features that are interpreted to represent mafic volcanic rocks which are considered to be highly prospective for Ni-Cu-PGE and gold mineralisation. A detailed interpretation of this regional magnetic data by independent consultants Southern Geoscience, has highlighted at least 20 separate target areasi (Figure 1), which require further investigation. The Crown Project is located just nine kilometres west of the Julimar Complex, where Chalice Mining (ASX: CHN) has made the Gonneville Ni-Cu-PGE discovery, where recent results include: 50m @ 1.8g/t Pd, 0.5g/t Pt, 0.9g/t Au, 0.2% Ni, 1. 1% Cuii. Oar will initially undertake a program of reconnaissance mapping and rock chip sampling to verify the geophysical target areas, followed up by systematic geochemical soil sampling, and a subsequent maiden drilling program at for the Crown Project in H2, calendar 2021

 



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